Equity Residential $EQR Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. reduced its holdings in Equity Residential by 44.9%, selling 752,837 shares and now owning 923,084 shares valued at approximately $66 million.
• Equity Residential's most recent quarterly earnings report revealed a net revenue of $768.83 million and earnings per share of $0.99, meeting analysts' expectations.
• Despite some analysts lowering their price targets, the average rating for Equity Residential remains a "Moderate Buy" with an average target price of $77.16 based on recent evaluations from various research firms.

Panagora Asset Management Inc. lessened its stake in Equity Residential (NYSE:EQR - Free Report) by 44.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 923,084 shares of the real estate investment trust's stock after selling 752,837 shares during the quarter. Panagora Asset Management Inc. owned about 0.24% of Equity Residential worth $66,074,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EQR. Versant Capital Management Inc grew its holdings in Equity Residential by 51.6% in the 1st quarter. Versant Capital Management Inc now owns 461 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 157 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new position in shares of Equity Residential during the 1st quarter valued at about $37,000. Keystone Global Partners LLC purchased a new stake in shares of Equity Residential in the first quarter valued at about $47,000. Zions Bancorporation National Association UT acquired a new stake in Equity Residential during the first quarter worth about $48,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Equity Residential by 27.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 740 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 92.68% of the company's stock.

Equity Residential Stock Down 3.3%

Shares of NYSE EQR traded down $2.16 during midday trading on Tuesday, hitting $63.96. The company's stock had a trading volume of 1,801,992 shares, compared to its average volume of 1,942,922. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market capitalization of $24.42 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 3.36 and a beta of 0.93. The business's fifty day simple moving average is $65.62 and its two-hundred day simple moving average is $68.20. Equity Residential has a 1 year low of $59.41 and a 1 year high of $78.83.

Equity Residential (NYSE:EQR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. The company had revenue of $768.83 million during the quarter, compared to analysts' expectations of $770.60 million. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 EPS. Equity Residential has set its FY 2025 guidance at 3.970-4.030 EPS. Q3 2025 guidance at 0.990-1.030 EPS. On average, equities analysts predict that Equity Residential will post 3.98 EPS for the current year.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, June 24th were given a $0.6925 dividend. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $2.77 dividend on an annualized basis and a yield of 4.3%. Equity Residential's dividend payout ratio (DPR) is currently 104.53%.

Analysts Set New Price Targets

EQR has been the subject of several analyst reports. Wedbush reissued a "neutral" rating and issued a $75.00 price target on shares of Equity Residential in a research note on Wednesday, May 28th. Stifel Nicolaus set a $80.50 price objective on Equity Residential and gave the company a "buy" rating in a report on Tuesday, August 5th. Morgan Stanley cut their target price on Equity Residential from $76.50 to $75.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Wall Street Zen downgraded Equity Residential from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Truist Financial lowered their price target on Equity Residential from $78.00 to $75.00 and set a "buy" rating for the company in a report on Friday. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $77.16.

About Equity Residential

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.